TH£ MAN ITCIOA BCCURITIEB CCIMMl8BION THE SECURITIES ACT ) Order No. 7036 t Section 20 and 167 } December 3, 2014 CO-ORDINATED REVIEW DETERMINATION AEQUITAS INNOVATIONS INC. AND AEQUITAS NEO EXCHANGE INC. The Manitoba Securities Commission makes the same determination on the Application as the Principal Jurisdiction, a copy of which is attached, and opts in on the attached Decision Document. 5()()..f4Kl St. Maiv Awnue, Wlnnll>"ll:, Manitoba RJC 4K.5 tel: (2fM) 945.2548 fax: (:?!H) 945.0330 www.msc.i;ov.mb.ca
[Translation] Order n° 2014-PDG-0168 This December 3"' 2014 IN THE MATTER OF the Securities Legislation of Quebec Manitoba New Brunswick Newfoundland and Labrador Northwest Territories Nova Scotia Nunavut Prince Edward Island Saskatchewan Yukon (Individually a "Jurisdiction" and collectively the "Jurisdictions") and the Process for Exemptive Relief Applications in Multiple Jurisdictions and Aequitas Innovations Inc. ("Aequitas") and Aequitas Neo Exchange Inc. ("Aequitas Neo Exchange") (Aequitas and Aequitas Neo Exchange are collectively referred to as the "Filers") DECISION PREAMBLE The securities regulatory authority or regulator in each of the Jurisdictions (individually an "Exempting Regulator" and collectively the "Exempting Regulators") has received from Aequitas Neo Exchange an application for coordinated relief dated June 6, 2014, as amended as at July 16, 2014 to include Aequitas as an applicant (the "Exemptive Relief Application") under National Policy 11-203 - Process for Exemptive Relief Applications in Multiple Jurisdictions (or, in Quebec, Policy Statement 11-203 respecting Process for Exemptive Relief Applications in Multiple Jurisdictions) ("NI 11-203") for a decision under the securities legislation of the Exempting Regulators (the "Legislation") for an exemption from the requirement for each of the Filers to be recognized as a stock exchange, an exchange, or a self regulatory organization (the "Exemptive Relief Soughr), the whole as set out in Schedule A. Under the Process for Exemptive Relief Applications in Multiple Jurisdictions for a coordinated review application and in accordance with NI 11-203:
(a) The Autorite des marches financiers (the "AMF" or the "Principal Exempting Regulator", as the case may be) is the principal exempting regulator for the Exemptive Relief Application; and (b) This decision is the decision of the Principal Exempting Regulator and evidences the decision of each other Exempting Regulator. INTERPRETATION Terms defined in National Instrument 14-101 - Definitions (or, in Quebec, Regulation 14-101 respecting Definitions) have the same meaning if used in this decision, unless otherwise defined hereinafter. In this decision, "Aequitas Issuer" means an issuer with one or more classes of securities listed in accordance with and subject to the requirements set out in the Rules; •A equitas Member" means a member approved by Aequitas Neo Exchange to access the "Exchange Systems" (as such term is defined in the Rules), provided such access has not been terminated. "Rule" means a rule, policy, or other similar instrument of Aequitas Neo Exchange, including but not limited to, trading policies and listing manual. BACKGROUND The Memorandum of Understanding respecting the Oversight of Exchanges and Quotation and Trade Reporting Systems among Alberta Securities Commission, AMF, British Columbia Securities Commission, Manitoba Securities Commission, Ontario Securities Commission (the ·osC") and Financial and Consumer Affairs Authority of Saskatchewan came into effect on January 1, 2010 (the ·MOU"). Aequitas and Aequitas Neo Exchange have filed with the OSC an application dated June 4, 2014 requesting recognition of each of Aequitas and Aequitas Neo Exchange as an exchange (the "Recognition Application"). On July 17, 2014, the Principal Exempting Regulator published the Exemptive Relief Application in the Bulletin of the Autorite des marches financiers ((2014) Vol. 11, No. 28, B.A.M.F., section 7.1) and invited interested parties to make comments in writing. This publication evidenced the fulfillment of all requirements for publication pursuant to the Legislation. On November 17, 2014, the OSC issued an order dated November 13, 2014 recognizing each of Aequitas and Aequitas Neo Exchange as an exchange, subject to the terms and conditions set out in the recognition order (the "Recognition Order"). The Recognition Order will be effective as of March 1, 2015.
Under the MOU, the OSC is designated lead regulator for the Filers. REPRESENTATIONS This decision is based on the following representations of the Filers: - Aequitas and Aequitas Neo Exchange will be carrying on exchange activities in Canada; - At the time of granting this decision, Aequitas is the sole shareholder of Aequitas Neo Exchange, and BCE Inc., Barclays Corporation Limited, Brilliant Orange Holdings Ltd., Cl Investments Inc., IGM Financial Inc., ITG Canada Corp., OMERS OCM Investments II Inc., PSP Public Markets Inc. and RBC Dominion Securities Inc. are each shareholders in Aequitas; Near the time of the launch of Aequitas Neo Exchange, Aequitas will conduct a financing whereby additional voting shares will be issued to buy-side institutions, issuers and sell-side firms; - As long as it will be necessary under applicable Canadian securities Laws, before approving an issuer to be listed on its market, Aequitas Neo Exchange will obtain from that issuer a copy of the undertaking that it signed in favour of the relevant Exempting Regulator (the "Issuer Undertaking"); The issuer will file the Issuer Undertaking on SEDAR; - Aequitas Neo Exchange has offices in Toronto, Ontario and does not have offices in any of the Jurisdictions; - Aequitas Neo Exchange agrees to be subject to the oversight program established by the OSC from time to time in accordance with the provisions set forth in the MOU and to comply with the terms and conditions of the Recognition Order; - Aequitas Neo Exchange will offer a wide range of services, in French and in English, to Aequitas Issuers and Aequitas Members; and - The Filers are neither in default of the Legislation in any Jurisdiction nor of the securities legislation of Ontario. DECISION Each of the Exempting Regulators is satisfied that the decision meets the test set out in the Legislation for each Exempting Regulator to render this decision. The decision of the Exempting Regulators under the Legislation is that the Exemptive Relief Sought is granted provided that:
1. CORPORATE GOVERNANCE a} The Filers will ensure fair, meaningful and diverse representation on the governing body (the "Board") and any committees of the Board, including: (i) Appropriate representation of independent directors; and (ii) A proper balance among the interests of the different persons or companies using the services and facilities of the Aequitas Neo Exchange, including regional interests. 2. CONTINUING RECOGNITION The Filers will continue to be recognized as an exchange by the OSC and to comply with the terms and conditions of the Recognition Order. 3. OVERSIGHT OF THE EXCHANGE Aequitas Neo Exchange will be subject to the oversight program established by the OSC from time to time in accordance with the provisions of the MOU. 4. REVIEW AND APPROVAL OF RULES a} The review and approval of the Rules will be subject to the following procedure: (i) All proposed amendments to the Rules filed with the OSC by Aequitas Neo Exchange will be concurrently filed with the Principal Exempting Regulator; (ii) All proposed amendments to the Rules that are made public for comments will be concurrently made public in English and in French by Aequitas Neo Exchange; and (iii) The final versions of the Rules will be filed with the Principal Exempting Regulator and be approved by the osc in English and in French. b) The Rules will be available in English and in French on the website of Aequitas Neo Exchange. 5. LISTING ACTIVITIES a) As long as it will be necessary under applicable Canadian securities Laws, before approving an issuer to be listed on its market, Aequitas Neo Exchange will obtain from that issuer a copy of the Issuer Undertaking. b) The Issuer Undertaking may be modified from time to time by each Exempting Regulator.
6. ADDITIONAL INFORMATION a) The Filers shall file with the Principal Exempting Regulator any related information concerning Aequitas Neo Exchange that is required pursuant to National Instrument 21-101 - Marketplace Operation (or, in Quebec, Regulation 21-101 respecting Marketplace Operations). b) Aequitas Neo Exchange shall file with the Principal Exempting Regulator copies of its annual assessment of the performance by the Investment Industry Regulatory Organization of Canada ("llROC") of the regulation services it provides to Aequitas Neo Exchange, and of its self-assessment of the performance by Aequitas Neo Exchange of any regulation functions not performed by llROC, and of the report provided to the Board, together with any recommendations for improvements. Aequitas Neo Exchange shall also file with the Principal Exempting Regulator a copy of any proposed actions arising therefrom and provided to the OSC. c) Aequitas Neo Exchange shall concurrently file with the Principal Exempting Regulator copies of these documents filed with the OSC: (i) On a quarterly basis, reports summarizing all exemptions or waivers granted pursuant to the Rules to any Aequitas Issuer or Aequitas Member during the period. This summary must include the following information: a. The name of the Aequitas Issuer or Aequitas Member; b. The type of exemption or waiver granted during the period; c. The date of the exemption or waiver; and d. A description of Aequitas Neo Exchange staffs reasons for the decision to grant the exemption or waiver. (ii) On a quarterly basis, reports containing the following information: a. The number of listing applications filed; b. The number of listing applications that were accepted; c. The number of listing applications that were rejected and the reasons for rejection, by Listing Market; and d. The number of listing applications that were withdrawn or abandoned and, if known, the reasons why the application was withdrawn or abandoned, by Listing Market. (iii) Press releases setting out the reasons for the suspension of trading or delisting of an Aequitas Issuer's listed securities. 7. ACTIVITIES a) Aequitas Neo Exchange will communicate and offer a wide range of services in English and in French to Aequitas Issuers and Aequitas Members, including listing, continued listing and follow-up services, as well as membership services, of a quality equivalent to those offered in Ontario.
b) Aequitas Neo Exchange must publish concurrently in English and in French each document issued to the public at large or generally to any Aequitas Member or Aequitas Issuer and must provide the document to the Principal Exempting Regulator immediately upon publication, including forms, releases, notices and other documents issued to Aequitas Members, Aequitas Issuers or to the public. c) The French version of the Web site of Aequitas Neo Exchange must be updated at the same time as the English version and must be comprised solely of French documents. 8. ACCESS TO INFORMATION a) Subject to the terms of the MOU, Aequitas Neo Exchange will promptly provide the Exempting Regulators when requested either directly or through the OSC, as the case may be, any information in the custody or control of Aequitas Neo Exchange or its affiliated entities, relating to Aequitas Members, Aequitas Issuers, the Filers' shareholders, the market operations of Aequitas Neo Exchange, and compliance with this decision including but not limited to, member lists, products, trading information and disciplinary decisions, the whole in accordance with the provisions set out in the Legislation, privacy legislation, as well as in any other laws pertaining to the collection, use and disclosure of information and the protection of personal information applicable in the Jurisdictions. b) The Filers shall protect the confidentiality of the information provided to them in connection with their operations, in accordance with applicable laws in the Jurisdictions. If the Filers fail to comply with one or more of the conditions set forth in this decision applicable to them, the Exempting Regulators may review or revoke this decision. This decision will become effective as of March 1, 2015. Louis Morisset President and Chief Executive Officer Autorite des marches financiers
SCHEDULE A Sections In Legislation: Exempting Regulators (a) Exemptive Relief Sought (b) Exempting provisions (a) Title VI, section 169 Autorite des marches financiers (b) Section 263 (a} Part XIV, section 139(1) Manitoba Securities Commission (b) Section 20(1) Financial and Consumer Services (a) Section 36 Commission (New-Brunswick) (b) Section 195.4 ! Northwest Territories Superintendent (a) Section 70 of Securities (b) Section 16( 1) (a) Section 30 Nova Scotia Securities Commission {b) Section 151A (a) Part 7, section 70 Nunavut Superintendent of Securities (b) Part 2, section 16( 1) Prince Edward Island Registrar of (a) Part 7, section 70 Securities (b) Section 16(1) Financial and Consumer Affairs (a) Section 21.1 Authority of Saskatchewan (b) Section 147.41 Newfoundland and Labrador (a) Part VIII, section 24(1 ) Superintendent of Securities (b) Sections 138.19 and 142.1 (a) Part 7, Division 1, section 70 Yukon Superintendent of Securities (b) Part 2, Division 2, section 16(1)
...-Decision n° 20 '~ · ?J)~-o ''" 8 Le 3 dee~~ 2014 DANS L'AFFAIRE interessant la legislation en valeurs mobilieres des territoires suivants : Quebec lie-du-Prince-Edouard Manitoba Nouveau. . Brunswick Nouvelle-Ecosse Nunavut Saskatchewan Terre-Neuva-et-l.abrador Terrltoires du Nord-Ouest Yukon (individuellement, un « territoire »,et collectivement, les « territoires ») et le traitement des demandes de dispense dans plusieurs territoires et Aequitas Innovations Inc.(« Aequitas »)et La Nao Bourse Aequitas Inc. (la « Neo Bourse Aequitas ») (Aequltas et la Neo Bourse Aequitas sont collectlvement appelees les « deposantes ») DECISION PREAMBULE Le 6 juin 2014, l'autorite en valeurs mobilieres ou l'agent responsable de chacun des territoires (individuellement, une « autorite de dispense» et collectivement, les « autorites de dispense ») a rec;u une demands de dispense coordonnee, dans sa version modifies le 16 juillet 2014, afin d'inclure Aequitas comme demanderesse (la « demande de dispense ») faite par la Neo Bourse Aequitas aux termes de l'lnstruction generale 11-203 relative au traitement des demandes de dispense dans plusieurs territoires (I'« Instruction generale 11-203 ») en vue d'obtenir, en vertu de la legislation en valeurs mobilieres des autorites de dispense (la «legislation 1), une dispense de l'obligatlon d'6tre reconnue a titre de bourse de valeurs, bourse ou organisme d'autoreglementation (la « dispense demandee ») pour chacune des deposantes, le tout ainsi qu'il est expose a l'annexe A.
Dans le cadre du traitement des demandes de dispense dans plusieurs territoires pour une demande sous examen coordonne et conformement a l'lnstrudion generale 11-203 : a) l'Autorite des marches financiers (I'« Autorite » ou I'« autorite de dispense principale », selon le cas) est l'autorlte de dispense principale a l'egard de la demande de dispense; b) la presente decision est celle de l'autorite de dispense principale et fait foi de la decision de chaque autorite de dispense. INTERPRETATION Sauf indication contraire. les definitions presentees dans le Reglement 14-101 sur Jes definitions s'appliquent a la presente decision. Dans la presente decision, on entend par: (( emetteur inscrit a Aequitas JO : un emetteur dent les titres d'une OU de plusleurs categories sont inscrits a la cote conformement aux exigences prevues dans les regles et sous reserve de celles-ci; « membre d'Aequitas »: un membre auquel la Neo Bourse Aequitas a confere une autorisation d'acces aux « systemes de la Bourse » (selon la definition donnee a cette expression dans les regles)1 a la condition que cette autorisation d'acces n'ait pas ete resiliee; « regle » : un regle, une politique ou un autre texte semblable de la Neo Bourse Aequitas, notamment les politiques de negociation et le manual d'inscription a la cote. CONTEXTE Le Protocole d'entente sur la surveillance des bourses et des systemes de cotation et de declaration d'operations intervenu entre !'Alberta Securities Commission, l'Autorite, la British Columbia Securities Commission, la Commission des valeurs mobilieres du Manitoba, la Commission des valeurs mobilleres de !'Ontario (la « CVMO ») et la Financial and Consumer Affairs Authority of Saskatchewan a pris effet le 1" janvier 201 O (le« protocole d'entente »). Aequitas et la Neo Bourse Aequitas ont depose aupres de la CVMO une demande datee du 4 juin 2014 en vue d'obtenir la reconnaissance d'Aequitas et de la Neo Bourse Aequitas a titre de bourse (la « demande de reconnaissance ») . Le 17 juillet 2014, l'autorite de dispense principale a publie la demande de dispense dans le Bulletin de l'Autorite des marches financiers [(2014) vol. 11 , n° 28, B.A.M.F., section 7.1J et invite les personnes interessees a soumettre des commentaires par ecrit. Cetta publication atteste que toutes les conditions de publication prevues par la legislation ant ete respectees.
Le 17 novembre 2014, la CVMO a publie une decision datee du 13 novembre 2014 reconnaissant Aequitas et la Neo Bourse Aequitas a titre de bourse, sous reserve des modalites enoncees dans la decision de reconnaissance (la cc decision de reconnaissance ») . La decision de reconnaissance prendra effet le 1• mars 2015. Conformement au protocole d'entente, la CVMO est designee comme l'autorite responsable des deposantes. DECLARATIONS La decision est fondee sur les declarations suivantes des deposantes : - Aequitas et la Neo Bourse Aequitas exerceront l'activite de bourse au Canada; - Au moment de rendre la presente decision, Aequitas etait !'unique actionnaire de la Neo Bourse Aequitas, et BCE Inc., Barclays Corporation Limited, Brilliant Orange Holdings Ltd., Cl Investments Inc., Societe financiere IGM inc., ITG Canada Corp., OMERS OCM Investments II Inc., PSP Public Markets Inc. et RBC Dominion valeurs mobilieres etaient toutes des actionnaires d'Aequitas; Peu avant le lancement de la Neo Bourse Aequitas, Aequitas procedera a un financement dans le cadre duquel des actions avec droit de vote supplementaires seront emises a des investisseurs institutionnels, a des emetteurs et a des courtiers; - Tant que la legislation canadienne en valeurs mobllieres l'exigera, avant d'approuver !'inscription d'un emetteur a son marche, la Neo Bourse Aequitas obtiendra de cet emetteur un exemplaire de !'engagement qu'il a signe en faveur de l'autorite de dispense (I'« engagement de l'emetteur »); L'emetteur deposers cet engagement au moyen de SEDAR; la Neo Bourse Aequitas a des bureaux a Toronto, en Ontario, et n'a de bureaux dans aucun des territoires; la Neo Bourse Aequitas convient d'!tre assujettie au programme de surveillance etabli par la CVMO conformement aux modalites enoncees dans le protocole d'entente et de respecter les modalites de la decision de reconnaissance; - la Neo Bourse Aequltas offrira un grand eventail de services, en franc;ais et en anglais, aux emetteurs inscrits a Aequitas et aux membres d'Aequitas; Les deposantes ne sont en situation de manquement a la legislation d'aucun des territoires ni a la legislation en valeurs mobilieres de !'Ontario.
DECISION Chacune des autorites de dispense estime que les criteres prevus par la legislation qui confere a chaque autorite de dispense le pouvoir de prendre la presente decision sent respectes. La decision des autarites de dispense en vertu de la legislation est d'accorder la dispense demandee, sous reserve de ce qui suit : 1. GOUVERNANCE a) Les deposantes assureront une representation reelle et diversifiee au sein de l'organe directeur (le « conseil ») et de tous les comites du conseil, y compris : i) une representation suffisante des administrateurs independants; ii) un Juste equilibre entre les lnterAts des differentes personnes physiques et morales qui utillsent les services et les installations de la Neo Bourse Aequitas, y compris entre les inten~ts regionaux. 2. MAINTIEN DE LA RECONNAISSANCE Les deposantes continueront d'etre reconnues a titre de bourse par la CVMO et de respecter les modalites de la decision de reconnaissance. 3. SURVEILLANCE DE LA BOURSE La Neo Bourse Aequitas sera assujettie au programme de surveillance etabli par la CVMO conformement aux modalites du protocole d'entente. 4. EXAMEN ET APPROBATION DES REGLES a) L'examen et !'approbation des regles seront faits selon la procedure suivante: i) taus les projets de modification des regles deposes par la Neo Bourse Aequitas aupres de la CVMO seront deposes simultanement aupres de l'autorite de dispense principale; ii) tous les projets de modification des regles qui sont rendus publics pour consultation seront publies slmultanement en anglais et en fran~ais par la Neo Bourse Aequitas; iii) les versions definitives des regles seront simultanement
deposees aupres de l'autorite de dispense principale et approuvees en anglais et en frant;ais par la CVMO. b) Les regles seront disponibles en anglais et en frant;ais sur le site Web de la Neo Bourse Aequitas. 5. ACTIVITES D 1 INSCRIPTION a) Tant que la legislation canadienne en valeurs mobilieres l'exigera, avant d'approuver !'inscription d'un emetteur a son marche, la Neo Bourse Aequitas obtiendra de cet emetteur un exemplaire de !'engagement de l'emetteur. b) Le cas echeant, !'engagement de l'emetteur peut etre modifie par chaque autorite de dispense. 6. RENSEIGNEMENTS SUPPLEMENTAIRES a) Les deposantes deposeront aupres de l'autorite de dispense principale tous les renseignements connexes au sujet de la Neo Bourse Aequitas prevus par le Reglement 21-101 sur le foncUonnement du marche. b) La Neo Bourse Aequitas deposera aupres de l'autorite de dispense principale des copies de son evaluation annuelle des services de reglementation qui lui sont fournis par l'Organisme canadien de reglementation du commerce des valeurs mobilieres ( « OCRCVM ») , de son auto.evaluation de sa prestation des fonctions de reglementation qui ne sont pas assurees par l'OCRCVM et du rapport remis au conseil, accompagnees des ameliorations suggerees, le cas echeant. La Nee Bourse Aequitas deposers egalement aupres de l'autorite de dispense principale le document dans lequel elle enonce toute mesure qu'elle entend prendre en consequence des documents susmentionnes et qu'elle a remis a la CVMO. c) La Nee Bourse Aequitas deposera simultanement aupres de l'autorite de dispense principale les documents suivants lorsqu'ils sent deposes aupres de la CVMO : i) Taus les trimestres, des rapports resumant !es dispenses ou renonciations accordees aux termes des regles aux emetteurs inscrits a Aequitas ou aux membres d'Aequitas pendant la periode. Ce rapport doit inclure !'information suivante: a. Le nom de l'emetteur inscrit a Aequitas ou du membre d'Aequitas;
b. Le type de dispense ou de renonciation accordee; c. La date de la dispense ou de la renonclation: d. La description des motifs a l'appui de la decision du personnel de la Neo Bourse Aequitas d'accorder la dispense ou la renonciation. ii) Tous les trimestres, des rapports renfermant !'information suivante: a. Le nombre de demandes d'inscription deposees; b. Le nombre de demandes d'lnscriptlon acceptees; c. Le nombre de demandes d'inscriptlon qui ont ete rejetees et les motifs des rejets, par marche d'inscription; d. Le nombre de demandes d'inscription qui ont ete retirees ou abandonnees et, s'ils sont connus, les motifs pour lesquels les demandes ont ete retirees ou abandonnees, par marche d'inscriptlon. iii) Les communiques enon~ant les motifs de ta suspension de la negociation ou de la radiation de la cote des titres d'un emetteur inscrit a Aequitas. 7. ACTIVtTES a} La Neo Bourse Aequitas communiquera et offrira une gamme etendue de services, en anglais et en francais, aux emetteurs inscrits a Aequitas et aux membres d'Aequitas, notamment des services d'inscription, de maintien a la cote et de suivi des emetteurs ainsi que des services aux membres, de qualite equivalente a ceux qui sont offerts en Ontario; b) La Neo Bourse Aequitas doit publier simultanement en anglais et en francais chacun des documents destines au grand public OU a tout emetteur inscrit a Aequitas ou membre d'Aequitas et les foumir a l'autorite de dispense principale des leur publication, y compris les formulaires, les communiques, les avis et les autres documents a !'intention de tout emetteur inscrit a Aequitas, de tout membre d'Aequitas ou du public. c) La version francaise du site Web de la Neo Bourse Aequitas doit etre mise a jour en meme temps que la version anglaise et comporter uniquement des documents en francais.
8. ACCES AL 'INFORMATION a) Sous reserve des modalites du protocole d'entente, la Neo Bourse Aequitas remettra rapidement aux autorites de dispense, lorsqu'elles en feront la demande soil directement, soit par l'intermediaire de la CVMO, selon le cas, !'information qu'elle ou les membres de son groupe possedent ou controlent au sujet des membres d'Aequitas, des emetteurs inscrits a Aequitas, des actionnaires des deposantes, des activites de marche de la Neo Bourse Aequitas et de la conformite a la presente decision, y compris las listes des organisations participantes, !'information sur les produits, !'information sur las operations et las decisions disciplinaires, le tout conformement aux dispositions de la legislation, de la legislation en matiere de protection de la vie privee et de toute autre loi concernant la collecte, !'utilisation et la communication de !'information et la protection des renseignements personnels applicable dens les territolres; b) Les deposantes doivent preserver la confidentialite des renseignements qui leur sont fournis dans le cadre de leurs activites, le tout conformement aux lois applicables dans les territoires. Si les deposantes ne respectent pas une ou plusieurs des conditions enoncees dans la presente decision qui s'appliquent a elles, les autorites de dispense pourraient reviser OU revoquer la presente decision. ~1"mars2015. Louis Morisset President-directeur general Autorite des marches financiers
ANNEXE A Dispositions de la leglslatlon Autorites de dispense portant sur : a) la dispense demandee; b) la dispense Autorite des marches financiers a) Titre VI, article 169 b) Article 263 Commission des services financiers et des services a) Article 36 aux consommateurs (Nouveau-Brunswick) b) Article 195.4 a) Commission des valeurs mobilieres du Manitoba Partie XIV, paragraphe 139(1) b) Paragraphe 20(1) Nova Scotia Securities Commission a) Article 30 b) Article 151 A a) Prince Edward Island Registrar of Securities Partie 7, article 70 b) Paragraphe 16(1) Financial and Consumer Affairs Authority of a) Article 21.1 Saskatchewan b) Article 147.41 Securities Commission of Newfoundland and a) Partle VIII, paragraphe 24(1} Labrador b) Articles 138.19et142.1 Surintendant des valeurs mobilieres des Territoires du a) Article 70 Nord-Quest b) Paragraphe 16(1) Surintendant des valeurs mobilieres du Nunavut a) Partie 7, article 70 b) Partie 2, paragraphe 16(1) a) Partie 7, division 1, article 70 Surintendant des valeurs mobilieres du Yukon b) Partie 2, division 2, oaraaraohe 16(1)
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